Transportation
Flight Simulator Firm Blames Bankruptcy on Budget Airline Stress
A Spirit Airlines plane lands near the air traffic control tower at the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida.
Photographer: Joe Raedle/Getty ImagesA bankrupt operator of flight simulators used to help train commercial airline pilots attributed its struggles to the market downturn stressing budget airlines like Spirit Aviation.
Florida-based Avenger Flight Group sought court protection Thursday with a lender-supported plan to sell its business at a potential Chapter 11 auction. The company listed assets and liabilities each of between $100 million and $500 million on its bankruptcy petition.